Development of performance indicators

Development of financial performance indicators

Borussia Dortmund modified its financial performance indicators at the beginning of financial year 2025/2026. Going forward, the performance indicators for liquidity will focus on free cash flow. Cash flows from operating activities will no longer be reported as a separate financial performance indicator. This modification is part of a broader approach: cash inflows and outflows from transfer activities are classified as cash flows from investing activities and play a central role in Borussia Dortmund’s liquidity management. As such, free cash flow will be used as the overarching performance indicator going forward.

The table below presents the Borussia Dortmund Group’s financial performance indicators – consolidated revenue, consolidated total operating proceeds, operating result (EBITDA), result from operating activities (EBIT), net profit/loss for the year, and free cash flow – for the 2025/2026 financial year and for the previous year as well as the amounts that were forecast for the financial performance indicators for the 2025/2026 financial year on 30 June 2025.

Having failed to secure the anticipated income from the UEFA Champions League after being eliminated in the knockout phase play-offs of the competition on the evening of 25 February 2026, Borussia Dortmund has revised its earnings forecast in the published combined management report dated 30 June 2025 (net profit/loss for the year of between EUR -5,000 thousand and EUR 5,000 thousand) downward to a net loss for the year of between EUR -12,000 thousand and EUR -22,000 thousand (see ad hoc disclosure dated 26 February 2026). However, the elimination from the cup competition also had an adverse effect on the other financial performance indicators.

Development of non-financial performance indicators

In the 2025/2026 season, Borussia Dortmund took further key steps to refine its sustainability strategy. In September 2025, Borussia Dortmund became the first German professional football club to publish a sustainability statement in accordance with the European Sustainability Reporting Standards (ESRS), its ninth Sustainability Report to date.

Borussia Dortmund’s sustainability website was completely revamped to present content in a structured, transparent, and targeted manner. A BVB-specific AI policy was adopted in collaboration with all relevant departments and now serves as a framework for downstream policies, guidelines and operating standards. At the same time, a procurement policy was drawn up that sets out mandatory sustainability requirements.

Environmental responsibility

In financial year 2025/2026, key steps were taken to further refine Borussia Dortmund’s environmental performance. The Science Based Targets initiative (SBTi) process for validating decarbonisation targets was completed. Borussia Dortmund’s climate targets are thus demonstrably and scientifically verified to be in line with the requirements of the Paris Agreement. This makes Borussia Dortmund the first German and only the second professional football club worldwide to have SBTi-validated climate targets.

Furthermore, the stadium roof-mounted photovoltaic system was completed in November 2025 and commissioned in the second half of the 2025/2026 financial year. An additional battery storage was also commissioned in the second half of the financial year. In addition, in October 2025, SIGNAL IDUNA PARK was connected to the City of Dortmund’s district heating grid. A further step along the net zero journey is the switch to an e-vehicle fleet, which is being effectively advanced with the help of the club’s new Sustainability Partner Polestar. Borussia Dortmund is also developing a circular economy strategy to systematically introduce the conservation, reuse and recycling of resources along key areas of the value chain. As part of its water management efforts, Borussia Dortmund is evaluating steps for treating rainwater and grey water separately. BVB Merchandising GmbH was recertified in accordance with the Global Organic Textile Standard (GOTS). GOTS is the world’s leading standard for textiles made from organic cotton and ensures that strict environmental and social criteria are met throughout the entire supply chain and are regularly verified by independent auditors.

Social commitment

Borussia Dortmund remains committed to using its appeal to promote social advancement and is further developing its educational and anti-discrimination work. In July 2025, Borussia Dortmund and Evonik organised a memorial trip Oświęcim. In addition, victims and their relatives of Hamas’ surprise attack on Israel on 7 October 2023 were invited to Dortmund for memorial events. Furthermore, the “BORUSSEUM” launched the “United by Borussia” event series for fans, employees and the general public. These events cover a variety of topics related to anti-discrimination work. Employees of Borussia Dortmund completed the Bundesliga’s EDI training programme promoting diversity and inclusion in football, and a Group-wide diversity strategy is being refined. Borussia Dortmund teamed up with ZONTA at the home matches against Stuttgart and Leverkusen to draw attention to and raise awareness of violence against women.

BVB’s “leuchte auf” foundation stepped up its activities with a focus on social responsibility: The 2025 Christmas carol signing event generated a record EUR 180 thousand in donations, which will be used to financially support and strengthen social organisations and activities. In December 2025, Borussia Dortmund paid tribute to volunteers, in particular the work of the Dortmund Tafel food bank and Gast-Haus e.V. homeless shelter, and invited 250 of them to attend a home match.

Borussia Dortmund’s sustainability website was completely revamped to increase transparency and reach. We also launched the “elDortmund” Instagram account to better address and present content to our Spanish-speaking and international fan community. The number of club members also reflects the continuing interest in Borussia Dortmund: As at 30 June 2026, Borussia Dortmund had 243,236 members (30 June 2025: 229,839 members).

For more information* on Borussia Dortmund’s sustainable development, please visit https://www.bvb.de/de/en/borussia-dortmund/responsibility.html. The current Sustainability Statement was published in September 2025.

* In accordance with the statutory requirements, the further information on the sustainable development of Borussia Dortmund does not fall under the scope of Deloitte GmbH Wirtschaftsprüfungsgesellschaft’s audit of the consolidated and annual financial statements.